South America Connected Gym Equipment Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Cardiovascular Training and Strength Training) and End-Users (Residential, Gym, and Other Commercial Users)
Market Introduction
The connected gym equipment market is rising rapidly in SAM due to the mounting government support, and the escalating adoption of advanced technologies. The countries in SAM are attracting huge FDIs on the back of cheap labor, and low entry barriers and interest rates. For instance, Argentina is concentrating on attracting FDIs by easing import restrictions, signing international bilateral agreements, and lifting foreign investment restrictions. The rising healthcare costs and growing health consciousness to consume healthy food and participate in regular workouts to remain fit by joining gyms. Thus, such customers are gradually adopting preventive healthcare, that, resulted in an enhanced number of gyms and fitness club in the region. Thus, promoting the growth of the connected gym equipment market in the country. Furthermore, the increasing awareness among millennials and rising expenditure of masses on healthy lifestyle and fitness activities, is boosting them to join gym and fitness clubs that are well equipped with connected equipment’s. Additionally, Gen X are the major consumers of health clubs and gyms, which is forcing the gym owners to focus on continuing to invest in their gym and health memberships by presenting personalized service offerings. Burgeoning technological advancement in connected gym equipment and escalating demand for residential connected gym equipment are the major factor driving the growth of the SAM connected gym equipment market.
In case of COVID-19, SAM is highly affected, especially Brazil. Government authorities in SAM region have taken required actions to protect their people from the infection of COVID-19. Connected gym equipment market has taken a serious hit in the countries like Argentina, Brazil, Chile, and Peru. Since one equipment is used by many people at gym, there are very high chances of spread of corona virus disease. That is why several travel restrictions were imposed. Since gyms are categorized under non-essential services, governments have put serious restrictions on them, and they are facing serious issues from almost a year now. Cardiovascular training and strength training where connected gym equipment are used extensively have experienced sharp decline in the use of these products. The travel bans, factory shutdowns, border lockdowns and import-export restrictions to combat the outbreak of corona virus have impacted the supply, production and sales of various raw material that are needed for the manufacturing of gym equipment. Due to various limitations, the manufacturing of such gym equipment has also declined, resulting in lesser production and procurement. All the mentioned factors have impacted the connected gym equipment market negatively. Because of signs of second and third wave of corona virus cases, it is difficult to predict the future of this market. However, this market seems to have a promising future when situation comes back to normal.
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Market Overview and Dynamics
The SAM connected gym equipment market is expected to grow from US$ 35.38 million in 2021 to US$ 181.62 million by 2028; it is estimated to grow at a CAGR of 26.3% from 2021 to 2028. It is not surprising that technology is increasingly making a place within people’s fitness routines. Consumer mindset is changing, they are not only working out to shape their bodies or to stay fit, but also to enhance their mental health and prevent various infections. The SAM market is observing the launch of new fitness devices, which are technologically innovative and digitally advanced. Market for home connected gym equipment is witnessing significant rise since last few years. Use of fitness apps has grown significantly. Several subscription options are available considering price, timing, and activity for each segment of customer. Fitness trackers are getting modified day by day. Apple has included an electrocardiogram (ECG) function, which provides a more detailed analysis about the users’ heart health. Fitbit’s new watch functions with more advanced heart rate sensors that use algorithms to reveal insights about user’s heart. Virtual coaching and training are becoming a needful tool in today’s fitness world. Several fitness applications are available that help users to simulate the experience of having a personal training class with an instructor by their headphones. So transforming fitness technology is expected to escalate the demand of connected gym equipment, thereby driving the SAM connected gym equipment market during forecast period.
Key Market Segments
In terms of type, the cardiovascular training segment accounted for the largest share of the SAM connected gym equipment market in 2020. In terms of end-users, the gym segment held a larger market share of the SAM connected gym equipment market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the SAM connected gym equipment market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Cybex International, Inc.; Johnson Health Tech; LES MILLS INTERNATIONAL LTD; Life Fitness; and Technogym S.p.A.
Reasons to buy report
- To understand the SAM connected gym equipment market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for SAM connected gym equipment market
- Efficiently plan M&A and partnership deals in SAM connected gym equipment market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form SAM connected gym equipment market
- Obtain market revenue forecast for market by various segments from 2021-2028 in SAM region.
SAM Connected Gym Equipment Market Segmentation
SAM Connected Gym Equipment Market - By Type
- Cardiovascular Training
- Strength Training
SAM Connected Gym Equipment Market - By End-Users
- Residential
- Gym
- Other Commercial Users
SAM Connected Gym Equipment Market - By Country
- Brazil
- Argentina
- Rest of SAM
SAM Connected Gym Equipment Market - Company Profiles
- Cybex International, Inc.
- Johnson Health Tech
- LES MILLS INTERNATIONAL LTD
- Life Fitness
- Technogym S.p.A
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 SAM Connected Gym Equipment Market – By Type
1.3.2 SAM Connected Gym Equipment Market – By End-Users
1.3.3 SAM Connected Gym Equipment Market – By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. SAM Connected Gym Equipment Market Landscape
4.1 Market Overview
4.2 SAM PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. SAM Connected Gym Equipment Market – Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Growing Health Concerns
5.1.2 Burgeoning Technological Advancement in Connected Gym Equipment
5.2 Key Market Restraints:
5.2.1 High Cost of Connected Gym Equipment
5.3 Key Market Opportunities:
5.3.1 Escalating Demand for Residential Connected Gym Equipment
5.4 Key Market Trends:
5.4.1 Transforming Smart Fitness Technology
5.5 Impact Analysis of Drivers and Restraints
6. Connected Gym Equipment Market – SAM Analysis
6.1 SAM Connected Gym Equipment Market Overview
6.2 SAM Connected Gym Equipment Market- Revenue and Forecast to 2028 (US$ Million)
7. SAM Connected Gym Equipment Market Analysis – By Type
7.1 Overview
7.2 SAM Connected Gym Equipment Market Breakdown, By Type (2020 and 2028)
7.3 Cardiovascular Training
7.3.1 Overview
7.3.2 Cardiovascular Training: Connected Gym Equipment Market- Revenue and Forecast to 2028 (US$ Million)
7.4 Strength Training
7.4.1 Overview
7.4.2 Strength Training: Connected Gym Equipment Market- Revenue and Forecast to 2028 (US$ Million)
8. SAM Connected Gym Equipment Market Analysis – By End-Users
8.1 Overview
8.2 SAM Connected Gym Equipment Market, By End-Users (2020 and 2028)
8.3 Residential
8.3.1 Overview
8.3.2 Residential: Connected Gym Equipment Market- Revenue and Forecast to 2028 (US$ Million)
8.4 Gym
8.4.1 Overview
8.4.2 Gym: Connected Gym Equipment Market- Revenue and Forecast to 2028 (US$ Million)
8.5 Other Commercial Users
8.5.1 Overview
8.5.2 Other Commercial Users: Connected Gym Equipment Market- Revenue and Forecast to 2028 (US$ Million)
9. SAM Connected Gym Equipment Market – Country Analysis
9.1 Overview
9.1.1 SAM: Connected Gym Equipment Market, by Key Country
9.1.1.1 Brazil: Connected Gym Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 Brazil: Connected Gym Equipment Market, by Type
9.1.1.1.2 Brazil: Connected Gym Equipment Market, by End-Users
9.1.1.2 Argentina: Connected Gym Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Argentina: Connected Gym Equipment Market, by Type
9.1.1.2.2 Argentina: Connected Gym Equipment Market, by End-Users
9.1.1.3 Rest of SAM: Connected Gym Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 Rest of SAM: Connected Gym Equipment Market, by Type
9.1.1.3.2 Rest of SAM: Connected Gym Equipment Market, by End-Users
10. SAM Connected Gym Equipment Market- COVID-19 Impact Analysis
10.1 SAM
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
12. Company Profiles
12.1 Life Fitness
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 LES MILLS INTERNATIONAL LTD
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Technogym S.p.A
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Cybex International, Inc.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Johnson Health Tech
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. SAM Connected Gym Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. SAM Connected Gym Equipment Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. Brazil: Connected Gym Equipment Market, by Type –Revenue and Forecast to 2028 (US$ Million)
Table 4. Brazil: Connected Gym Equipment Market, by End-Users –Revenue and Forecast to 2028 (US$ Million)
Table 5. Argentina: Connected Gym Equipment Market, by Type –Revenue and Forecast to 2028 (US$ Million)
Table 6. Argentina: Connected Gym Equipment Market, by End-Users –Revenue and Forecast to 2028 (US$ Million)
Table 7. Rest of SAM: Connected Gym Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 8. Rest of SAM: Connected Gym Equipment Market, by End-Users –Revenue and Forecast to 2028 (Rest of SAM$ Million)
Table 9. List of Abbreviation
LIST OF FIGURES
Figure 1. SAM Connected Gym Equipment Market Segmentation
Figure 2. SAM Connected Gym Equipment Market Segmentation – By Country
Figure 3. SAM Connected Gym Equipment Market Overview
Figure 4. Cardiovascular Training Segment held the Largest Share of SAM Connected Gym Equipment Market
Figure 5. Gym segment held the Largest Share of SAM Connected Gym Equipment Market
Figure 6. Rest of SAM to Show Great Traction During Forecast Period
Figure 7. SAM- PEST Analysis
Figure 8. SAM Connected Gym Equipment Market Ecosystem
Figure 9. Expert Opinions
Figure 10. SAM Connected Gym Equipment Market Impact Analysis of Drivers and Restraints
Figure 11. SAM Connected Gym Equipment Market - Revenue and Forecast to 2028 (US$ Million)
Figure 12. SAM Connected Gym Equipment Market Breakdown, By Type (2020 and 2028)
Figure 13. SAM Cardiovascular Training: Connected Gym Equipment Market- Revenue and Forecast to 2028 (US$ Million)
Figure 14. SAM Strength Training: Connected Gym Equipment Market- Revenue and Forecast to 2028 (US$ Million)
Figure 15. SAM Connected Gym Equipment Market Breakdown, By End-Users (2020 and 2028)
Figure 16. SAM Residential: Connected Gym Equipment Market- Revenue and Forecast to 2028 (US$ Million)
Figure 17. SAM Gym: Connected Gym Equipment Market- Revenue and Forecast to 2028 (US$ Million)
Figure 18. SAM Other Commercial Users: Connected Gym Equipment Market- Revenue and Forecast to 2028 (US$ Million)
Figure 19. SAM: Connected Gym Equipment Market, by Key Country – Revenue (2020) (USD Million)
Figure 20. SAM: Connected Gym Equipment Market Revenue Share, by Key Country (2020 and 2028)
Figure 21. Brazil: Connected Gym Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Argentina: Connected Gym Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Rest of SAM: Connected Gym Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Impact of COVID-19 Pandemic in SAM Markets
- Cybex International, Inc.
- Johnson Health Tech
- LES MILLS INTERNATIONAL LTD
- Life Fitness
- Technogym S.p.A
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the SAM connected gym equipment market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in SAM connected gym equipment market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth SAM market trends and outlook coupled with the factors driving the connected gym equipment market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution